Roofing projects, such as roof replacement, aren’t cheap. And, not only that, but you shouldn’t really count on the quoted estimate as the gospel truth; it’s a good idea to set aside at least 20% of the total in case you need change orders or want to add something else to your roofing undertaking.
This makes flexible financing a blessing for many homeowners, especially if repayment terms are generous. Here are some options.
Since you don’t need to get approved by a lender, you can begin your project right away or at your own convenience. Plus, there’s no credit limit involved, so you can spend as much as you want without limitation, and it can save money as there are no interest charges as there are in loans.
However, it’s easy to over-extend yourself and spend for much more than what you need. Obviously, you can only do this when you have a lot of savings without using your emergency fund. Quality Assurance Roofing suggests that if your savings are less than six months’ worth of living expenses, consider other financing options.
Credit cards offer advantages: convenience, payment flexibility and rewards that can help save on future purchases or expenses the more you use them. Unsecured credit cards also allow you to access funds right away without having to offer collateral.
Depending on your credit limit, however, credit cards are only useful for small roofing projects and repairs. If you use it for bigger ones like replacing an entire roof, you might have to borrow beyond your credit limit, which will trigger extra charges.
A personal loan can be used for practically anything, and amounts will usually depend on the consumer loan product you choose from your lender. While loans are immensely useful, the approval process may take a while, and interest rates may depend on general market conditions. If you have a bad credit score, interest rates may also skyrocket as the lender will need to insure against your risk of default.
Quality Assurance Roofing is the area’s authority on roofing. For more information on how our financing options work, call us at one of our nearest branches: (479) 239-5469, (Mulberry), (479) 279-8500 (Rogers), (501) 214-4815 (Little Rock) and (417) 799-7889 (Branson West).